| |
Posted Jul 18, 2025, 12:54 AM
|
 |
Moderator
|
|
Join Date: Aug 2002
Location: Winnipeg, Manitoba
Posts: 8,672
|
|
Quote:
Hello, 127 Bannatyne
New Exchange District apartment tower opens doors to tenants, preps pair of restaurants
By: Gabrielle Piché
Posted: Thursday, Jul. 17, 2025
The complex stands head and shoulders above its Winnipeg neighbours.
A bright white on top, darker brick underneath. It sticks out, modern against historic Exchange District buildings.
Tenants started trucking boxes in earlier in July. Developers of the apartment, 127 Bannatyne, expect all 80 suites to be filled within the next month.
It’s the latest in a series of changes slated for Bannatyne Avenue. By current timelines, the East Exchange strip could see two new restaurants — from the company behind Cibo Waterfront Cafe, James Avenue Pumphouse and Junction 59 Roadhouse — and an expanded Parlour Coffee, among other construction, in the spring.
“There definitely is investor interest in the area,” said Bryce Alston, a director at Alston Properties.
Alston Properties and Concord Projects co-developed 127 Bannatyne. The 10-storey building was roughly 60 per cent leased, residentially, by mid-July. Commercially, it’s fully booked.
“I think the whole neighbourhood is ripe for further development, but it’s tough to make those numbers work,” said Nolan Ploegman, Concord Projects chief executive.
Nolan Ploegman, president and CEO of Concord Projects, outside the new apartment block at 127 Bannatyne Avenue.
Construction on 127 Bannatyne was tricky: the tower consumes its entire podium and is sandwiched between older buildings. There were delays during the foundation stage — “Ran into all sorts of interesting things underground,” Ploegman said — and materials had to be delivered meticulously due to a lack of on-site storage.
“(It’s) something to be proud of,” Ploegman said of the build. “(We) created something new that a lot of people thought wasn’t possible.”
Construction costs landed around $30 million, Ploegman added.
He’s aiming to be part of downtown revitalization — and so, Concord Projects moved its headquarters from North Kildonan to 127 Bannatyne’s second floor.
Approximately 35 people are in the office daily; another 35 job site workers pop in regularly, Ploegman said.
Two restaurants are scheduled for the main level.
“I liked the spot, and I like the street,” said Darin Amies, who oversees True Hospitality.
First, he was hesitant — 127 Bannatyne is close to both Cibo and James Avenue Pumphouse, two eateries True Hospitality operates. Still, Amies said yes to an offer from Alston Properties (the firm behind the Exchange District’s Pumphouse development).
One restaurant at 127 Bannatyne, a modern Asian concept, is labelled House of Ma’s; the other, Highwater, will involve a bar and bistro or supper club.
He’s eyeing opening dates in the spring. Drawings are in the works; menus haven’t been rolled out.
Amies has noticed greater development in the Exchange District over the past decade. More people — and increased police and Business Improvement Zone foot patrols — have helped stem restaurant break-ins, he said.
Area restaurateur Noel Bernier echoed Amies: “Sales continue to lag, but the actual experience and vibrancy and safety of the neighbourhood has improved dramatically over the last year.”
(Property and violent crime reports have dropped 16.7 and 7.3 per cent, respectively, year over year ending in March in the Exchange District. Still, the reports — 489 property-related and 140 violent — are higher than five-year averages, Winnipeg Police Service data show.)
Bernier opened Hermanos Restaurant and Wine Bar before the COVID-19 pandemic. The company’s sales haven’t rebounded to pre-pandemic levels, he relayed. Still, he’s optimistic — changes like the opening of the Portage Avenue and Main Street intersection to foot traffic contribute to greater accessibility, and 127 Bannatyne will add to safety, he said.
“For a lot of reasons, 127 Bannatyne isn’t just a new apartment building,” Bernier continued. “It’s a confidence vote for the East Exchange.”
Connor Vogt intends to draw more people to the Exchange District upon opening a larger Parlour Coffee next spring.
Parlour bought the building next door, a vacant structure at the corner of Main and Bannatyne, earlier this year.
“We’re just limited by the amount of room that we have,” Vogt said.
Parlour’s current Main Street locale can fit 15 to 20 people. The number should double — and the physical size will more than double — post-move. Vogt envisions book clubs, live music and artist-led workshops at 474 Main St.
“We have been isolated for so long,” he said. “I think people are looking for opportunities to be together.”
Take Parlour: the number of customers has jumped year over year. The shop now might see 150 people in a day, Vogt said.
He plans to keep “the old Parlour touches” in the new space while creating an eclectic feel. Expanding to the basement and roof are possibilities, he said, while declining to share the purchase price.
“We’ve been encouraged to see the amount of investment in the Exchange District,” said David Pensato, executive director of the Exchange District BIZ.
Attractive ground-floor businesses encourage pedestrian traffic and vice versa, fostering a feedback loop, Pensato said.
Alston, of Alston Properties, labelled 127 Bannatyne a “higher-end” building. Affordable units were quickly taken at rents of $1,200 monthly. Other units’ rents range from $1,550 to $2,775, including internet.
The development faced backlash during its proposal phase for its height. It replaces a surface parking lot.
|
Winnipeg Free Press
|
|
|
Prev
Linear Mode
